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Why the IEA Now Thinks Oil Demand Will Keep Rising Until 2050
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Why This Matters
The IEA has revised its forecast, suggesting that global oil demand may continue to rise until 2050, contrary to earlier predictions of a peak by 2030. This change indicates a potential reversal in climate commitments and energy diversification efforts by governments and fossil fuel companies.
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Market impact analysis based on bullish sentiment with 70% confidence.
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Bullish
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70%
Article Context
Note: This is a brief excerpt for context. Click below to read the full article on the original source.
The International Energy Agency (IEA) predicted in 2023 that the global peak in oil demand would likely take place by 2030, as governments worldwide introduced plans for a green transition and fossil fuel companies began to diversify their portfolios to include renewable alternatives. However, this month, the IEA has backtracked on this prediction, stating that oil demand could continue growing through to 2050. This reflects a U-turn by many countries on climate commitments and by oil and gas companies on energy diversification efforts. In…
Original article published by
OilPrice.com
on November 22, 2025.
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